WARREN BUFFET: The Richest Investor In The World Bought His First Stock At Age 11.

Born 87 years ago, Warren Buffet according to Bloomberg, currently stands as the third richest person in the world, coming in behind Microsoft founder Bill Gates and Amazon’s Jeff Bezos. The last rating- in 2017 leaves him $1.5 billion below from Bezos, who is the founder and largest shareholder of Amazon, according to Bloomberg’s ranking. Buffett also ranks higher than Amancio Ortega, who owns a majority of Zara’s parent company, and Mark Zuckerberg, founder and CEO of Facebook, who rounds out the top five richest people in the world.

IN THE BEGINNING:

Howard Buffett, Warren Buffet’s father owned a small brokerage, and Warren would spend his days watching what investors were doing and listening to what they said. As a teenager, he took odd jobs, from washing cars to delivering newspapers, using his savings to purchase several pinball machines that he placed in local businesses.

HOW HE MADE HIS MONEY:

Buffett’s fortune comes from his shares in a number of companies including Berkshire Hathaway, Geico, Clayton Homes, Mid American Energy, Coco-Cola, American Express and Wells Fargo, according to Bloomberg. He is the chairman and largest shareholder of Berkshire Hathaway, which is in based in Omaha.

In fact, when he bought his first stock in 1942, the headlines didn’t look good, he notes: “We were losing the war in the Pacific.”

Warren Buffett got into the investing game early. He bought his first stock — shares of Cities Service for $38 apiece — at age 11. Since, the investing legend has amassed a fortune of $75 billion and become one of the richest men in the world.

What he’s learned since buying his first stock in 1942 is to buy, hold and not watch the markets too closely.

No matter what the headlines say … American business is going to do fine over time. Occasionally we go off the tracks with bubbles … but it will never permanently derail us.”

In fact, when he bought his first stock in 1942, the headlines didn’t look good, he notes: “We were losing the war in the Pacific.”

Warren Buffett’s secret to investing lays in the game of baseball Warren Buffett’s secret to investing lays in the game of baseball

Markets go up and down every day, but that doesn’t necessarily mean there’s significance to every move. As an investor, it helps to be patient, and to accept a certain level of uncertainty.

Since buying his first stock at age 11, “75 years have gone by and I’ve never known what the market is going to do the next day,” Buffett says. “That’s not my game. My game is to decide whether I’m in the right economy, which America has definitely been ever since that time.”

Rather than trying to time your investments, buy and hold for the long term. “The money is made in investments by investing, and by owning good companies for long periods of time. If they buy good companies, buy them over time, they’re going to do fine 10, 20, 30 years from now.”

It’s what he’s been doing since the 1940s and what he still does today, regardless of the headlines.

“I’ve owned stocks consistently since 1942. I was buying stocks the day before the [2016] election. I was buying stocks the same day after the election. Had Hillary been elected, it would’ve been the same thing.”

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